Image Credit: Global Times
Foreign enterprises’ confidence in the Chinese market has grown in the second quarter, according to a report published on Friday by the China Council for the Promotion of International Trade (CCPIT). The report revealed that more than 40 percent of surveyed respondents expressed increasing confidence in China, citing its growing attractiveness.
The survey, which included responses from over 400 foreign companies, highlighted that US-invested businesses in China showed the highest level of optimism, with over 40 percent bullish on the market’s prospects. Nearly half of the respondents, predominantly US-funded enterprises, expected profit margins to rise over the next five years, with many planning increased investments in China during 2024.
Key indicators such as infrastructure services, market access, taxation, and commercial dispute resolution received positive ratings from the surveyed companies. This underscores the appeal of China’s business environment.
CCPIT spokesperson Wang Linjie emphasized the council’s commitment to supporting foreign-invested enterprises by enhancing a market-oriented, rule-of-law-based, and internationalized business environment. Wang mentioned that CCPIT would focus on deepening communication with foreign companies and addressing their concerns to facilitate mutually beneficial cooperation.
Despite efforts by the US to impede China’s growth, international businesses are drawn by the market’s performance and potential. Li Yong, a senior research fellow at the China Association of International Trade, noted the strong confidence among global investors in China’s economy for 2024, attributing this to a stable policy environment and high-quality opening-up.
Analysts believe the report highlights the resilience of China’s economic development and the continuous optimization of its business environment.